February 16, 2010 10:06 pm
Serica Energy is worth a look. It's a UK-based exploration company that trades below its asset value. It just contracted a rig for their Conan prospect and momentum should move into the shares as the drill bit starts and people wait for the well results. Couple of other big prospects (Oates and Bowers) to be drilled over the next ~ 180 days which makes this a good prospect for price appreciation through mid-summer. Well news is all upside as farm-outs are effectively carrying Serica with minimal capital outlay by them. Comments welcome.